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Question 1

(1.2 - The Market) How do you calculate price elasticity of demand?

Answer 1

Percentage Change in QD / % Change in Price

Question 2

(1.2 - The Market) What is the YED formula?

Answer 2

% Change in QD / % Change in Income

Question 3

(1.1) What is the market share formula?

Answer 3

Sales of a business / Total sales in the market x 100